Aid to the establishment of personnel requirements

Assignment Help Microeconomics
Reference no: EM13689574

As an aid to the establishment of personnel requirements, the director of a hospital wishes to estimate the mean number of people who are admitted to the emergency room during a 24-hour period. The director randomly selects 64 different 24-hour periods and determines the number of admissions for each. For this sample, the mean is 19.8 and the sample variance = 25. Find the upper limit of a 95% confidence interval for the mean number of admissions per 24-hour period.

Reference no: EM13689574

Questions Cloud

Proportion of defective items coming off a production line : Normal 0 false false false EN-US X-NONE X-NONE A quality control engineer ..
Aid to the establishment of personnel requirements : As an aid to the establishment of personnel requirements, the director of a hospital wishes to estimate the mean number of people who are admitted to the emergency room during a 24-hour period.
Interested in studying the incomes of consumers : An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000.
Calculate the price elasticity of demand for each group : The makers of academic books find that, when they raise the price of the average hard copy book from $50 to $75, quantity demanded among students drops from 100 to 90. Among casual readers, quantity demanded drops from 80 to 40.
Find the variance of the portfolio : Consider an investment portfolio of $50,000 in stock A and $50,000 in stock B. The expected value of A is 9.5% and B is 6%. The variance of A is 13% and the variance of B is 8%.
Opportunity cost of attending college is greater for bill : Bill and Sam both attend the same college and have the same expenses for tuition, books, and supplies. However, Bill is a famous athlete who could be earning $1 million per year playing professional baseball if he were not attending college while Sam..

Reviews

Write a Review

 

Microeconomics Questions & Answers

  Find the profit-maximizing levels of price and output for

american export-import shipping company operates a general cargo carrier service between new york and several western

  Compute total consumer and producer surplus in market

the demand and supply functions for the world truffle market are given byqd 48 000 - 40pqs -3000 10pwhere p is the

  What you expect to happen to the number of firms

Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if..

  Low income housing or subsidized housing in urban economics

Low income housing or subsidized housing in urban economics and the paper must be atleastten pages long

  How would you treat possible future costs of lawsuit which

in calculating the incremental cost of a particular project how would you treat the possible future costs of a lawsuit

  Presume wave detergent is sold in a monopolistically

Presume Wave detergent is sold in a monopolistically competitive market. If the price of Wave detergent is currently $6 and the ATC is $4, in the long-run we expect

  The price of bonds and the relevant interest rate

Inverse relationship between the price of bonds and the relevant interest rate.

  Explain which principles of economics directly associate to

write a 1750 to 2450 word paper in which you decide whether to purchase a house.discuss which principles of economics

  How much economic profit do expect that roberts company

roberts new way vacuum cleaner company is a newly started small business that produces vacuum cleaners and belongs to a

  Portion of the marginal cost curve

Suppose labor costs are 17.5 percent of revenue per vehicle for General Motors. In union negotiations during the late 1990s, GM attempted to cut its workforce to rise productivity.

  Determining price of labor and capital

Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.

  Budget constraint for the individual with the composite good

An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd